Murray on the brink at Ibrox after Rangers ask him to step down as chairman

Malcolm Murray's tenure as Rangers chairman could close before the end of the week as the Ibrox club continue to work towards a resolution.

Murray has been asked to step down by the Rangers board after concerns emerged about his suitability for the role. It’s thought there has now been further contact to try and swiftly resolve the issue in as amicable a fashion as possible.

Any announcement about Murray's departure would first have to be made to the Stock Exchange, as Rangers were listed on the Alternative Investments Market following a share issue that raised £22.2million at the turn of the year.

Set to go: Malcolm Murray looks to be on the way out at Ibrox

It is unclear what would happen next should his exit be finalised, but one possibility could be the appointment of an interim chairman.

Current nonexecutive directors Ian Hart, Philip Cartmell and Bryan Smart could all be candidates for that post.

Meanwhile, Rapid Vienna last night confirmed they had received more than £700,000 from Rangers in relation to the transfer of Nikica Jelavic.

Paying the price: Rangers still owe Austrian side Rapid Vienna

The Ibrox outfit owed in excess of £1m for the Croatian striker when they entered administration and, ultimately, liquidation last year.

Jelavic cost £4m when he moved to Glasgow in the summer of 2010, before he joined Everton in a £5m deal last January.

The Austrians are continuing to pursue the oldco for the remainder of their money through legal channels, although a spokesman admitted that process could take many months.